GBP/USD: losing bullish strength – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD pair corrected higher this Monday.

Key Quotes:

“Although the movement has been quite shallow, considering the pair got rejected around the 1.4600 level, barely closing 60 pips higher after falling around 450 in an eight-straight days´ decline.”

“The pair began the day flirting with fresh 9-month lows, reaching 1.4493 before bouncing, and maintains the bearish tone in the longer term outlook.”

“There were no fundamental news released in the UK, yet this Tuesday, the kingdom will offer its latest Industrial and Manufacturing Production figures, expected mostly flat. Should the data result better-than-expected, the Pound’s upward corrective movement may extend further. In the meantime, the short term picture is losing the early bullish strength.”
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Source:: FX Street